National IFA firm Continuum has reported a 19% rise in assets under advice to over £1.81bn.
Financial highlights for the quarter include:
- A 19% rise in assets (year-on-year) to £1.814bn
- A 10% rise in ongoing recurring income
- 17% year-on-year growth in overall written levels for My Continuum Select Model Portfolios to £275m
- A 5% growth in Continuum’s partnership with accountancy body 2020 Innovation as professional partnerships support overall growth.
The quarter also saw a 14% increase (year-on-year) in adviser numbers to 67, as well as a further strengthening of our adviser support through an increase in our paraplanning and central administration teams.
The firm’s digital marketing efforts also continued to pay off with a 29% increase in website audience and an impressive 191% increase in Head Office enquiries.
The national IFA firm said it is also well prepared for the introduction of the FCA’s new Consumer Duty at the end of this month.
Martin Brown, Managing Partner at Continuum, said: “As we pass through the midpoint of 2023, we can be encouraged by the growth direction of our business, and importantly be confident on how well we are positioned for the biggest regulatory change to UK financial services in over 10 years.
“At the end of this month we will see the implementation of Consumer Duty and with that a clear raising of standards across our profession.
“This long overdue change can only drive up the quality of client engagement and with it enhance the reputation of high-quality advice firms such as Continuum.”
At the start of July Continuum ran five bespoke workshops for advisers and support staff around the country, to ensure that all of the team were ready to embrace the opportunity that Consumer Duty provides. The principles of Consumer Duty have been embedded within the business for the last two to three years.
Mr Brown continued: “This may be one small step for quality firms, but this is a giant leap for the breadth of UK Financial Services.
“Consumer Duty is a defining moment for the industry and we have no doubt that time will show this to be a significant market differentiator for those businesses that fully embrace this new benchmark.
“Good companies will become great. Continuum will be one of those firms.”
